NAB predicts bumper Christmas shopping week

OREANDA-NEWS. December 21, 2015. Australians will hit the shops in record numbers in the week before Christmas, with National Australia Bank predicting it will process more than 71 million transactions.

NAB Executive General Manager Consumer Lending, Angus Gilfillan, said from Friday 17 December until shops close on Christmas Eve, customers will make 71.5 million transactions using ATMs, EFTPOS, debit and credit cards.

“We expect to see customer transactions continue to increase on most days, peaking at 11.5 million transactions on Christmas Eve,” he said.

“NAB research shows Sunday 20 December is your best bet to beat the Christmas shopping crowds with a comparatively fewer 7.2 million transactions set to take place.

“We’re predicting the shopping peaks on these days to hit between midday and 1pm, so best to shop outside your lunch break if you can.”

This year NAB’s research predicts Australian consumers will make 9.4 million more transactions compared to this time last year.

“In 2014, we processed 62.1 million transactions in the week before Christmas, at the same time this year we expect to see 71.5 million transactions,” Mr Gilfillan said.

“Shoppers should plan ahead as much as possible, with five of the next seven days set to have more than 10 million transactions – which means very little elbow room at shopping centres and high streets across the nation.

“These higher forecasts suggest we’re set for a stronger Christmas trading period which is great news for retailers.”

Christmas week 2015 transactions forecast